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Australian billionaire leads Genex Power takeover
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Australia s Genex Power Stock Surges 50% Amid $220 Million Takeover Bid by Tech Billionaire
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Genex Power Ltd (ASX:GNX) EGM Approves JPower Investment - Timeline to Financial Close
EGM Approves JPower Investment - Timeline to Financial CloseSydney, April 29, 2021 AEST (ABN Newswire) - Genex Power Limited (
ASX:GNX) is pleased to provide the following update on the finalisation of the subscription by Electric Power Development Co., Ltd ( J-POWER ) for up to $25M to be applied toward the 250MW Kidston Pumped Storage Hydro Project ( K2-Hydro or Project ).
Highlights:
- Subscription pricing period commenced, subject to a minimum of $0.211 per share; and
- Financial Close scheduled to occur on 19 May 2021.
Following approval of Resolution 1 and Resolution 2 at the Extraordinary General Meeting of Genex shareholders (EGM) held earlier today (refer ASX Announcement dated 29 April 2021), Genex has today given notice to J-POWER that the conditions precedent to the Share Subscription Agreement between Genex and J-POWER ( SSA ) (refer ASX Announcement dated 24 March